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Founder and president, the Van Tharp Institute
Dr. Van K. Tharp is the founder and president of the Van Tharp Institute and an international leader among professional trading coaches and consultants. Helping others become the best trader or investor that they can be has been Tharp's mission since 1982. Tharp collected more than 5,000 successful trading profiles in a 10-year study of individual traders and investors, including many of the top traders and investors in the world, and developed a model for successful trading and investing. He also developed The Investment Psychology Inventory Profile to help people better understand their strengths and weaknesses in relation to trading or investing and has produced a number of home study courses. Tharp is a certified Master Practitioner of Neuro Linguistic Programming (NLP), a Certified Master Time Line Therapist, a certified Modeler of NLP, an assistant trainer of NLP and the author of three books.
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Van's Secrets |
Secret 1 |
The first secret of trading success is having Discipline. A good trader must have the discipline to make sure that they do not make mistakes, and a mistake is not following your rules. And if you don't have enough rules to guide your behavior, then anything you do is a mistake. |
Secret 2 |
The second secret of trading success is the Golden Rule of Trading, which is cutting losses short and letting profits run. This means that success really has nothing to do with "stock picking" or selecting the right investment. |
Secret 3 |
The third secret of trading success is having a Trading System that Fits Who You Are. Your system must fit your objectives, your beliefs about yourself, your beliefs about the market, and your beliefs about each of the part of the trading system, such as set-ups, entry, stop, exits, and position sizing. When you have a system that fits you and the confidence to trade it, then you are likely to do well with it. |
Secret 4 |
The fourth secret of trading success is that you must Use Position Sizing to meet your objectives. Position sizing refers to "how much" size you have on throughout the course of a trade. And position sizing is really designed to meet your objectives. Thus, you must know what your objectives are and you must know how to use position sizing to meet those objectives.
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Secret 5 |
The last secret of trading success is that everything is 100% Psychological. Even these five secrets are 100% psychological. |
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Free Research
Darrell Jobman: Euro/US
Friday, May 16 200810:29:00 EST - The dollar weakened in early Europe on Thursday following the firmer than expected Euro-zone growth data.
The US currency was also unsettled by a renewed increase in oil and commodity prices. The US growth- ... more>
Jim Wyckoff: Energies
Friday, May 16 200810:29:00 EST - June crude oil closed down $0.10 at $124.12 a barrel yesterday.
Prices closed near mid-range in volatile trading. The bulls still have the strong overall near-term ... more>
Robert W. Colby: Growth Stocks and Utilities
Friday, May 16 200810:29:00 EST - Energy and Materials Stock Sectors both rose to a new all-time price highs, driving some, but not all, of the major stock price indexes to new 4-month highs.
Relatively low volume fails to confirm a new Bull Market. The weight of the evidence appears mixed. ... more>
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